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Leadership & Management > Chapter 5 > Flashcards

Chapter 5 Flashcards

1
Q

3 types of plans

A

Strategic
Operating
Continuous or rolling plan

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2
Q

A continuous process of assessing and establishing goals and objectives and implementing and evaluating and controlling them.

A

Planning

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3
Q

Looking into the future and decide in advance

A

Forecasting

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4
Q

It gives an agency something to strive for.

A

Vision

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5
Q

It outlines the organizations future role and function

A

Vision

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6
Q

A preestablish and often self-imposed objectives or purpose

A

Mission

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7
Q

Statement of belief and values that directs ones practice.

A

Philosophy

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8
Q

Gives direction towards attainment of a certain goal

A

Philosophy

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9
Q

Desired aims or condition towards which one is willing to work

A

Goal

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10
Q

Statement of desired short-term condition or achievement, with measurable end result

A

Objectives

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11
Q

Kroh’s formula

A

What- when- where-how-who-why-can

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12
Q

Allocating one’s time through setting goals, assigning priorities

A

Time management

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13
Q

Principles of time management

A

Planning for contingencies
List of tasks
Inventory
Sequencing
Setting and keeping deadlines
Delegating

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14
Q

Calendar of activities

A

List of tasks

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15
Q

Thinking of other options

A

Planning for contingencies

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16
Q

Looking at the task done and not done

A

Inventory

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17
Q

A systematic financial translation of a plan

A

Budgeting

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18
Q

A tool for planning, monitoring and controlling cost and meeting expenses

A

Budgeting

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19
Q

Income the management expects to generate

A

Revenue budget

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20
Q

Money for the acquisition or maintenance of fixed assets

A

Capital budget

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21
Q

Budget based on quantitative workload measurement

A

Personnel budget

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22
Q

The actual operating budget plan in details

A

Cash budget

23
Q

A day to dat budget and represents money coming in and going out

A

Cash budget

24
Q

Estimation of cash flows of a business over a specific period of time

A

Cash budget

25
Q

Portrays a company’s expenses, expected cost, and estimated income

A

Operating budget

26
Q

Money received, cash receipt and disbursement during planning period

A

Cash budget

27
Q

Program acquisition, disposal and improvements in the institutions physical capacity

A

Capital budget

28
Q

Designed to meet future service expectation for clients, provide patient care at minimum cost.

A

Hospital budget

29
Q

Include all employee-related expenses, including salary and bonuses

A

Personnel budget

30
Q

It is utilized over a longer period of time, it often depreciates

A

Supplies and equipment budget

31
Q

Classified as a long tern asset and usually refers to items that will last and be used longer than a year

A

Equipment (supplies and equipment budget)

32
Q

3 uses of budget

A

Planning
Monitoring and motivating
Communication

33
Q

Preparation for a budget forces the organization to plan for the future

A

Planning

34
Q

Budget stages

A

Formulation stage
Review & enactment stage
Execution stage

35
Q

Develop objectives and management plan ( budget stage)

A

Formulation stage

36
Q

Revise and combine into organizational budget

A

Review & enactment stage

37
Q

Direct and evaluate expenses and receipts

A

Execution stage

38
Q

Revise budget if indicated

A

Execution stage

39
Q

Production cost that change in proportion to the amount of goods that are produced

A

Variable costs

40
Q

Not related to volume

A

Fixed costs

41
Q

Remain constant as volume increases or decreases

A

Fixed costs

42
Q

Fixed expenses that cannot be recovered even if a program is cancelled

A

Sunk costs

43
Q

Providing the product or service

A

Direct costs

44
Q

Expenses that cannot be traced back to a single costs object or cost source during manufacturing process

A

Indirect costs

45
Q

Legal expenses, administrative salary, housekeeping, office expenses and building maintenance

A

Indirect costs

46
Q

Advertising, research and development, hiring employees and training/seminars

A

Sunk costs

47
Q

Raw material- labor- production- commission- cards-freight

A

Variable costs

48
Q

Rentals, loans and taxes

A

Fixed costs

49
Q

Types of expenses or costs

A

Fixed
Variable
Sunk
Direct
Indirect

50
Q

Standing plans used repeatedly, or guides

A

Policies

51
Q

Are specific guide to action

A

Procedures

52
Q

Minimal level of achievement acceptable to meet the set objectives

A

Standards

53
Q

It is deciding in advance what to do, how to do a particular task, when to do it and who is to do it.

A

Planning

Leadership & Management (12 decks)

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